May 22, The Bitcoin Pizza Day – Everything You Should Know

May 22, The Bitcoin Pizza Day – Everything You Should Know

If you are interested in Cryptocurrencies, you must be familiar with the stream of terminology and colloquialisms present in the crypto world. But this is not the end. The Crypto world also celebrates some events & occasions, and Bitcoin Pizza Day is one of them. Now Bitcoin can be traded conveniently using

The Crypto market skyrocketed in late 2020, but this industry has been evolving for a long time. The first cryptocurrency that came into the market was Bitcoin in the year 2009. At that time, nobody knew anything about crypto. Even Bitcoin, which is a top-notch cryptocurrency nowadays, had no value back then. 

The launch of Bitcoin made its value close to nothing, and it was never used to purchase anything. But May 22, 2010, changed the whole scenario because of a crypto enthusiast Laszlo Hanyecz

He decided that he would use his holdings of Bitcoin to purchase something from the real world, and he decided about buying a pizza. In this matter, he thought about spending 10,000 Bitcoins to buy two pizzas from Papa John. 

The worth of 10,000 Bitcoins is around 300 million dollars now. He should be declared the hero of Bitcoin because he is the first person to utilize a digital currency to make a commercial transaction.

Bitcoin Pizza Day

And guess what? He succeeded in getting two pizzas for 10,000 BTC. Since then, May 22, is known as Bitcoin Pizza Day and is celebrated all over the world. Since then, the value of Hanyecz’s Pizzas has been constantly increasing with the price hike of Bitcoin every year. 

After almost nine months of this outclass transaction, the value of Bitcoin and Dollar equaled. In 2015, the value of those two pizzas was 2.4 million dollars. Currently, when Bitcoin reached its peak, it was about 63,000 dollars, and the price of two pizzas was 630 million dollars.

Why Is It Important For Crypto?

It is crucial for the crypto world because on Bitcoin Pizza Day, for the very first time, something tangible from the real world was purchased. This made Bitcoin feasible for real-world deals and showed its worth beyond virtual deals.

Here are some interesting and surprising details about it

At The Time Of Deal, 10,000 BTC Valued Only $41

The given data shows that if Hanyecz had converted his holdings of 10,000 Bitcoins into dollars, the amount had to be $41, which shows that the value of Bitcoin at that time was close to zero.

Hanyecz Waited For Four Days To Get His Pizzas

Hanycez had to wait for days to get his order, but it is not that surprising because Satoshi Nakamoto had to wait for 11 months so that Bitcoin might develop some value.

He Didn’t Stop And Bought More Than Two Pizzas!

Hanyecz kept pushing the limits as he continued ordering Pizzas for Bitcoins later on. This exchange continued, and there is the penalty of evidence to back those transactions.

Bitcoin Pizza Day

It Is Not The First Holiday In The History Of Bitcoin

Since the inception of Bitcoin, it has created holidays for Bitcoiners. It also created a holiday when the Bitcoin Developer Satoshi Nakamoto stepped down from his position. If you are thinking that Bitcoin Pizza Day started a bit earlier, you are wrong. It took some time to become a globally recognized holiday.

Bitcoin Pizza Day Was Not Celebrated Initially

Today Bitcoin Pizza Day is celebrated all over the world, but before 2014, its celebrations are not in the record even if celebrations were made. It is not a surprising fact because people had little or zero awareness of Bitcoin at its early stages. Henyecz’s story got popular when the New York Times published it in an article.

As the story went viral, mainstream media coverage made it famous around the globe. That is why Bitcoin Pizza Day is a holiday to express the viability of currency.

Images Of Pizzas Got Via Bitcoins Are Still Available

If you wish to look at those multi-million-dollar pizzas, pictures are still available. It happened due to the inclination of Hanyecz towards photography which made it possible to keep a record of moments like these. Now anyone can see that super costly pizza eaten back in 2010.

He uploaded more than five pictures of his pizzas containing more toppings than the conventional ones.

Leave a Comment